DECLARE NO-SPEND DAYS
Whether for a month, a week, or
just a few days, it’s beneficial
to reset and find a way to recom-
mit to your savings goals.
Our clients save up to $50 a day.
Some have saved more than
$3,000 a month with this trick.
SHANNON McLAY, CEO AND
FOUNDER OF THE FINANCIAL GYM
IN NEW YORK CITY
MASTER YOUR CAR
I’ve learned how to change
a tire, add air to my tires,
and replace my windshield
wipers and air filters—all
take less than an hour and
save me hundreds every
year. I also only get my oil
changed once a year;
I called my car company
and was told that’s fine for
the type of engine I have
and the amount I drive.
KARA PEREZ, FOUNDER OF THE
FINANCIAL PLATFORM BRAVELY GO
SNEAK MORE MONEY
INTO A ROTH ACCOUNT
After you hit the maximum
$19,000 yearly pretax contribu-
tion to your traditional 401(k),
you may still be able to contribute
up to $37,000 more on an after-
tax basis. Some plans let you
move your after-tax contributions
into a Roth 401(k) or Roth IRA.
With these accounts, you can
withdraw money tax-free at retire-
ment. Check your plan for allow-
able contributions and limits.
ROGER MA
USE COMPLETED DEBT
PAYMENT TO SAVE MORE
If you finish paying off a car,
home, or student loan,
keep making those payments
toward another goal. For exam-
ple, put them in a high-interest
savings account to build an
emergency fund, or transition
student loan payments into
your kids’ 529 plans.
BROOKE NAPIWOCKI
GO TO YOUR GYM FOR CHILDCARE
There are plenty of gyms that offer super-affordable
childcare while you’re on the premises. For us, it’s
only $30 a month. We’d spend hundreds on babysit-
ting for those hours. This trick has saved our family
thousands of dollars, gotten me fit, and best of all
given me the energy I need with two kids in tow.
LINA KRISTJANSEN, BLOGGER AT FIVE YEAR FIRE ESCAPE
SCHEDULE BIWEEKLY MORTGAGE PAYMENTS
If you set up biweekly payments instead of monthly ones, you’ll
make the equivalent of 13 payments a year instead of 12. Less interest
will add up, and you’ll pay off more of your principal balance.
Ask your loan servicer if they can process your payments this way.
CAROL FABBRI
TIME PRICEY BUYS
Big-ticket items have desig-
nated (often multiple)
sale periods throughout the
year. In September, you can
often find deals on kitchen
appliances, lawn mowers,
mattresses, grills, and
bicycles. Keep a list on your
phone of the big purchases
that might be coming up
and include the brand you like
and the price. Then, if you
can, wait for sale periods.
BRIANNA FIRESTONE
GET A TAX CREDIT ON SOME HOME IMPROVEMENTS
Researching state and federal tax credits or rebates when you’re
remodeling (or buying items like solar panels) can be really
valuable. Check out dsireusa.org for a list of possible savings.
CAROL FABBRI
MATCH BUYING
AND SAVING 1:1
Say you want a $100 pair of
jeans. Make it a rule that, if you
buy the jeans, you’ll put $100 into
savings. This could help curb your
spending. Even if you give in to the
impulse, you’re still doing some-
thing good for your finances.
KRISTIN WONG, AUTHOR OF GET
MONEY: LIVE THE LIFE YOU
WANT, NOT JUST THE LIFE
YOU CAN AFFORD
BALANCE
100 REAL SIMPLE SEPTEMBER 2019
